Stock prices for wheat rose on forecasts of frost in the United States

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Prices for American wheat after falling last week by 3.9-5.8% yesterday rose immediately by 3.2-3.7% against the background of increased exports and Frost forecasts in the regions where winter wheat is grown next week.

According to the USDA, during January 7-13, wheat exports from the United States increased by 57% compared to the previous week to 369.2 thousand tons, and in general in the season reached 12.8 million tons, which is 17.8% lower than last year’s pace.

March wheat futures rose:

  • by 1 10.1 / ton to Чикаго 282.6/ton for soft winter SRW wheat in Chicago,
  • by 1 10.2 / ton to H 283.9/ton for hard winter HRW wheat in Kansas City,
  • by 1 10.56 / ton to 3 333.3 / ton for hard spring HRS wheat in Minneapolis,
  • by 3 3.75 / ton to Чикаго 324/ton for Black Sea wheat in Chicago, offsetting Friday’s drop,
  • by €3.25/ton to €267.75/ton or європей 303.3 / ton for European wheat on Euronext Paris.

In Ukraine, purchase prices for wheat remain in ports at the level of 3 300-305/ton or UAH 9500-9550/ton. traders are in no hurry to step up purchases due to low export sales.

The pace of wheat exports from the EU also remains low. As of January 9, only 15.1 million tons of wheat were exported, compared to 14.1 million tons a year ago.

According to Chinese customs, the country imported 0.94 million tons of wheat in December, which is 7% more than a year ago. And the total import of wheat in 2021 amounted to a record 9.77 million tons, which is 17% higher than in 2020.

 

GrainTrade 

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